tv Power Lunch CNBC August 27, 2014 1:00pm-2:01pm EDT
>> my gosh. i was going to bring up krispy kreme, but i'll save you. >> sorry. final pick, ticker. >> sorry, judge. >> weatherford. >> htz. >> mas. that does it for us. "power lunch" starts now. halftime is over. the second half of your trading day begins now. >> welcome to "power lunch." is the housing market about to collapse has it run too far too fast? diana elick just spoke with fannie mae's chief economist, and you'll have to wait. there aren't many of these guys out there, but we found one. and we're debating the big caps for you as well. which do you want to own?
where do you see opportunities? we'll talk about that on power. tyler continues on vacation. i'm is not my partner at the nyse. hi, simon. >> the theme for the first few minutes, the bear scare. one for stocks, another in housing. we start with housing. a big question being raised about the still recovering real estate markets. fannie mae has been speaking to diana olick, or the chief economist has been speaking to diana. what is he saling? >> reporter: well, he doesn't call himself a bear, but he does say, quote, i am a realist. fannie mae's chief economist downgraded his forecast for the housing recovery dramatically. >> we have looked at a combination of the research we have done on the demographics, and then looked at the mechanics of the construction space and looked at what some of the boomers are doing, and we
concluded that people are too optimistic about whether or not 2015 is going to be a breakout year for housing. >> he says it won't be. so out came the ax in august. duncan dropped think forecast for single-family housing starts. he dropped the forecast down by 17%. he cut his forecast for new home sales by 16%. he cut his forecast for existing home sales by 2%, and for mortgage originalationses by 4% from july's forecast. >> it's not because we're pessimistic. it's just that we feel like people are overestimating the contribution that housing is going to make, because they haven't studied consumer attitudes with respect to housing in the way that we have. >> he says younger americans still want to own, but more for lifestyle than financial reasons, because they've seen how you can get burned. he also says the small job
growth we have seen in the past year is just not enough. >> what it means is that the contribution of housing to economic growth will be less than what some people are assuming. our forecast as a result has been below consensus from a growth perspective for the last five or six years and frankly it's been closer to the actuals than a lot of other forecasts. >> now, today freddie mac put out a summary of what it sees as the monthly look at the housing market. it said overall it is, quote, generally weak. simon? >> diana, let me ask you something else. from the ceo of wells far wo who gave an interview with "the financial times" saying they're going to avoid giving loans unless the federal authorities reduce the threat that they will -- basically they want to be absore in the future unless
there's a specific problem with underwriting. is that significant? >> the big banks have been complaining about this for quite a while. wells fargo the leader in home lending. they have done some lower fico is it loans under a small program, but they've concerned as well that they're not getting enough clarification about what fannie mae, freddy make will do if a loan goes bad. they don't want to have to keep buying the loans back. they're not seeing the certainty and clarification that they won't have to do that. >> diana, thank you. in. in the yahoo finance question of the day -- do you agree with fannie mae downgrading -- the results will come up later in the show. we have breaking news in the bond market. this time it's the five-year note that went off the block. rick santelli is tracking the action. what is the grade? >> i'm a generous guy on wednesday. a c-plus. many say the plus was a bill unwarranted 35 billion five to
yield out the door. 1.646. here's where it gets dicey. i saw it trading at 1.645, but some would say that flipped into the bid side, so maybe a smidge of a tale, but 2.81 was the bid to cover, bert than 2.73 ten auction average. 52.7 was the best indirect since july of last year. we were a little light on directs at 10,8 verse 14. we're going to walk away a c-plus in lieu, of course of 29 billion seven-years tomorrow. many believe the longer duration, the longer the instrument, the better auction. we'll see tomorrow, sue. back to you. >> we sure will. let a hey, dom, i think you match my pants. >> and now i'm sitting behind a desk. we're watching shares of dow chemical, which are moving higher. reuters is reporting the company
is beginning the process to sell two specialty unit that could fetch around $2 billion combined. this is part of the it is effort to divest noncore assets. morgan stanley among the investment. here on "power lunch", we're going on a bear hunt is the s&p bull run is on a tear. so where are all the bears? we did a little searching to find out what some of the glass half empty investors had to tail. she also predicted another market bubble caused by global central bank says. back in june of this year abigail doolittle set that u.s. indices we are hitting areas of resistance that she predicted could cause a crux.
a reminder just because they haven't been right yet doesn't mean that they won't be right. so david ties joins us now, he's a bear. he is president of tice capital. >> good to see you again, sue. >> i have been critical of some of the policies but as you look at this market right now what well, frankly we don't think quantitative easing is the key to los angeles-term success. this is longer term it's not going to work. this reminds me a lot of what happened in 1999 in '06 and '07 when i was warning people about it.
is the fed has engineered a nice recovery. really if you look underneath the economy, you can see our unemployment rate is ben even people like janet yellen are talking about -- b.i.s. is talking about the markets uphoric. >> what about those who say that all of those things -- are struggling, we saw german bonds go negative in terms of yield this morning, that the u.s. is the only play to put capital to
work and that will continue to underpin asset prices. >> this is certainly an unprecedent dr and we see japan, uk, china slowing down, all these things however, i don't believe it sends well. this has happened over thousands of year, monetary history where governments typically want to make promises and get out of benies to their constituents. >> what kind of move to the down side are you anticipating this market to make?
i'm playing it in the gold bullion. does not have a constituency for debasement. a 12-year run, it's been down for the last three years. i have neveren more confident of anything in my life. >> very quickly, david, i asked you what -- if the market does start to correct. >> i would say, sue, it's likely to be a 30 to 60% decline. i think this is going to be, you know, a period of extreme turmoil. it defense on what the fed does and throws at all.
it's possible that nominal stock prices don't decline that much. >> let me just press you a little bit. if you talk about a 60% decline, a lot of people would characterize that as a crash. what do you think would be the one things or combination of things that would trigger that? would it be a change in monetary policy that was a little more drastic than the market was looking for? would it be another crisis? europe? what would it be? >> i'd say it would be the loss of confidence in central banks. right now central banks have the confidence. this is a confidence game. so once confidence is lost in the central banks, it could be a pick up in velocity where inflation picks up, therefore the fed has got to increase rates. it's where the fed starts to lose control.
markets are bigger that are snn banks. >> nice to see you again. >> simon, down to you. stocks near report highs. he's comanager of the large-cap growth fund. we just had a stark interview that clearly you both have been listening to, a man of conviction arguing that we could get a 30% to 0% fall on the markets, and that ultimately the central bank action is only a short-term fix. andy, how would you argue back against that? >> if you look back to have a 20% correction or more, you've really gotting to one of two things, economic recession or you've got you see economic
recession, or extreme valuations on equities. we don't think that is the situation with the market today. the economy continues to improve, and the s&p on 16 1/2 times earnings, we think a 20% correction is unlikely. ernesto, is it impossible to argue that we're at the start of a new super-cycle. when you hear people like that, there's a lot of people who doubt the rally where we are. >> well, in our opinion and our research shows that stock prices following earnings. unless we are on the verge of an imminent earnings collapse like in '08 and '09 where earnings fell by 60%, we just don't see the kind of correction at all that your previous guest was talking about. in fact, we see earnings continuing to grow 10% roughly in 2014, up to 12% in 2015.
unless something dramatically happens to change that picture, we just don't see the collapse in earnings that would lead to a collapse in stock prices like your previous guest talked about. >> andy, with all the research you do, what area of the market do you like the most? what are the names that you are buys? >> we're really focused on bottom-up fundamentals. we look for high -- and one company that we like and we've been buying recently is western union. it trades on about 11 1/2 times earnings it enjoys a very strong well-recognized brand, and network of agents, that number over 500,000, and the expertise to operate in a very complex regulator environment. so we like western union at these prices. >> we're out of time. in fairness to you, ernesto, what is the name you would pick
out most prominently. one of the names is apple. we have a very comprehensive screen to rank other stocks. we look at valuation, fundamentals and price action, and apple ranks at the top 4% of our university. it's because it's traiting at a very inexpensive valuations, at about 15 times earnings, relative to the growth, which is still low double digits. companies like this are not that common. in fact, we also have some catalysts down the horizon, for example, that will introduce the iphone6 and i watch. and we also have the new ipad, the bigger ipad release, plus they continue to buy stock and pay healthy dividends. so all of these reasons make us very excited. >> good to meet you both. thank you for your analysis.
so we've just spent the top of the show talking about the bears. we'll turn the tables in two minutes and give the bulls their chance. morgan brennan, and josh limit ton in pallet alternate on the late palleto al to. >> we ran the numbers on what typically outperforms headed into the fall and what's looking undervalued, so we'll have those names in just a few minutes. but first, josh? well, morgan, apple stock on a tear, hitting new records. whether you account for the split or not. now, when we come back what's likely inside that new iphone. is it enough to satisfy shop terse. more power in two minutes.
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check out this video. it's dangerous, but amazing to watch. there are predictions that some waves will hit the 30-foot mark along the california coast. love it. >> thanks, simon. you know, defense stocks among the sectors that sizled. so as summer comes to a close, which stocks should you own heading into the fall? morgan brennan was charged with that. >> we ran several screens to, a, see what stocks tent toity perform and to, b, see what stocks off a potential buying opportunity. for starters, we look at september performance over the past five years. even with the 2011 down side, the s&p sectors that typical do the best are consumer discretionary, with each of those typically gaining about 3% on average. the biggest laggards, materials,
utilities and financials. only 17 names or just 3% of the s&p 500 have posted gains, every buff those -- and among them discretionary stocks. also health care names like cerner, celgene and perrico. all returning on average 4% or more for the month, cerner being the highest at about 12%. so digging into that data, food and beverage companies like craft, kellogg and constellation brands could be worth a look. also insurance firms like aig, progressive and travelers. in the media space discovery and cablevision while at&t and verizon are two standouts in telecom. lastly some utility stocks,
edison international and agl resources all trading below five-year averages, but strategists say to keep an eye on the bond market if you're going to invest, because any sell-off in treasuries could push that sector lower. >> good advice. thanks, morgan. simon, down to you. apple hag certainly been a summer sizzler. don't for are today reports that apple may be planning a larger ipad hailed, and the upcoming iphone 6 is what investors are focused on. what do consumers really want? josh lipton knows, and he's in palo al palo alto. >> reporter: yeah, the internet is certainly running wild with iphone 6, you even have celebrity gossip sites like tmz getting into the action. that's typically ahead of a big apple media event. regardless of the rumor,
consumers have their own opinions about what they want to see in the new iphone. take a listen. >> i would like a better camera and a bigger screen. >> 3-d features, like really futuristic -- >> i want more battery. please do batteries that last at least one day. that would be great. >> i already have what i need. it works fine. it's great. >> reporter: okay. so that guy has an iphone, he's happy with it. if you're looking for an upgrade, the apple blogs, the analysts, i think there's three rumors that become a reality. they think the new iphone 6 would feature larger displays. the phone could use sapphire glass for its display, it's durable, it's scratch-resistened, and the new phones could run a faster processor.
timothys ultimately what he will see is a phone that's thinner, faster and lighter. he thinks it will please the apple camp. i to spoke scott if you weren. he thinks it would boast a faster camera and clearer resolution. regardless of what comes out, though, guys, certainly apple has to make the right move here. remember the iphone still accounts for over 50% of apple's revenue. sue, back to you. >> josh, thank you very much. all right. we're on retail detail. three stocks in that sector that are on a team. one's in the high end, one is in the midrange, and one is crafty. plus -- up next, power pitch gets undressed with a start-up that wants to bring sexy back to the slip. will the panel vote to boost or bust this lingerie?
>> what's to stop victoria's secret or is the are spanx from doing this? >> are you in or out on this week estart-up? get ready to start voting. park . and a choice. take 4 advil in a day or just 2 aleve for all day relief. peanuts! peanuts! crowd cheers! ♪ ♪ ♪ [ tires screech ] chewley's finds itself in a sticky situation today after recalling its new gum. [ male announcer ] stick it to the market before you get stuck. get the most extensive charting wherever you are with the mobile trader app from td ameritrade.
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challenges and washington of a -- it did reinforce its commitments, the shares still down by about 2%. >> dom, thank you very much. tiffany shares are higher, raising the outlooks for years. express topping estimates, the street was expecting a break-even quarter. saying profit margins are approving. and michael 's stores also soaring, expecting full-year earnings to come in, again, above what the street is expecting. sue? >> simon, time for our weekly series, the power pitch. where start upfounders get 60 seconds to convince a panel of experts that their company has what it takes to become the next big thing. here's today's pitch.
hi. my name is we reinvented two wardrobe, bringing together function and fantasy. working my way up the corporate ladder, it was such a disadvantage and distraction to walk into a room adjusting my skirt or fearing a wardrobe malfunction, so i started luxxie that's comfortable, functional and sexy. this is not your grandmother's, our 92% silk blend material is washable, breathable and insulating. our garments smooth your clingy layers and calm your fears of a wrap dress on a windy day. it's 12014. a woman should not have to compromise comfort for a silhouette.
>> you just saw stephanie's pitch. see what they think. we have the founding partner of partners with entrepreneurs. she also founded fashion start-up which she sold to confess confess. >> and curio, a company that -- and by the way, kelly worked at a lingerie store during college. also on set -- and managing director of first market capital. on early stage investments, first market has invested in a men's undergarment brand of notable investments a lot of experience on our panelists today. also on set is -- in bu-- now,
would you like to throw out the first question? >> what is the number one concern you're trying to address? >> for all of human existence, women have tortured themselves to look good. why can't they be comfortable and gorgeous at the time. using a 92% silk blend, you're draped in silk all today the. >> or target customer is between the ages of 25 and 40. any woman that's ever worn a dress or had something too sheer, too tight or too bunchy. >> i love that you're making this in the united states. tell me about that decision. >> honestly, it wasn't just for patriotic reasons, but from a convenient setpoint. >> it's easy to turn over samples and get an understanding going back and forth, and we have fantastic manufacturers in this country. >> what makes you stand out from the competition? >> we've spend 18 months researching this garp. beta at the timed on sizes 0 to
16. we also consulted with faculty members to understand what is the latest technology out there? how do we make it functional, comfortable and sexy. >> what's to stop victoria's secret or spanx to do. >> there's not a single threat. a 92% silk blend material is rather pricey. we've been able to create a luxury product that is affordably price because of our direct to consumer e-commerce model. >> i spoke to probably a dozen women under 35. all bun one of them had not worn a slip before. how they don't even know they have that problem. >> one of our challenges is to educate that group. we're using traditional media, social media. we currently have a campaign rolling out where we show celebrity with wardrobe malfunctions. we have been approached by a
major and they're going to puck it on a starlet to show that it's cool again. >> we all heard what stephanie -- and this includes you, the viewer, by the way. okay, difficultia, what did you think? >> there are so many alternatives out there that are cost-effective for women that don't make them change their existing behavior. she wants to change behavior, that's very cost -- i don't see different materials or something that makes me attach to it. unfortunately i'm out. >> what about you, kelly? >> all those reasons for saying no, and manufacturing in the u.s., that can be very expensive, but this is an industry dominated by men. i would love nothing better to see another work -- >> so one out, one in. >> i think this could be a gigantic opportunity, but i'm out until she with overcome the
obstacle of educating t. >> it looks lie you have work ahead of you, but what's your reaction? >> the feedback is valuable. we went to market six weeks ago, so we are still a young company, and it's going to help this company and bring it to the next level. >> best of luck. >> a big thanks to stephanie and to our panelists. and our model as well. live voting is just about to close. thank you, viewers, for your in our out. that's today's "power pitch." let's lock in the vote. right now it is 651% say you are in on the product, but on luxxie boston, 49% say that you are out. simon, down to you. having so cheered up the production team, let's stick with the theme of intimate apparel. checking out this controversial new ad showing coding in their
underwear. it's generated, as you can imagine a lot of heated debade. you can join the conversation. are the underwear-clad coders helping or hurting the battle against sexism in silicon valley. that subject ahead in the power rundown. we have braenging news now. here's what we've got for you. in semis, lending club, they make consumers loans to other people. they just dropped their s-1. the details are a little sparse. they filed this ipo, they made a $500 placeholder. they're putting that in the filing. no indication on the ticker. more details as they become available, sue, but for right
not, another big ipo that could be in the making is lending club. >> dom, thank you very much. let's check -- on the back of the five-year with rick santelli. they basically started a baker's dozen. . this is the one you have to pay attention to. at the lowest levels in pretty close to a year. simon, all yours. facebook's sheryl sandberg is probably the most high-protile chief operating officer out there. why are more and more companies say, no thanks, we don't need a
c.o.o. yeah more? what's behind the growing trend? that's next. from 2000 to 2011, on average 17 manufacturers a day shut down in america. there's no reason we can't manufacture in the united states. here at timbuk2, we make more than 70,000 custom bags a year, right here in san francisco. we knew we needed to grow internationally, we also knew that it was much more complicated to deal with. i can't imagine having executed what we've executed without having citi side by side with us. their global expertise was critical to our international expansion into asia, into europe and into canada. so today, a customer can walk into our store in singapore, will design a custom bag and that customer will have that american made bag within a few days in singapore. citi has helped us expand our manufacturing facility;
the company has doubled in size since 2007. if it can be done here in san francisco, it can be done anywhere in america. where the reward was that what if tnew car smelledit card and the freedom of the open road? a card that gave you that "i'm 16 and just got my first car" feeling. presenting the buypower card from capital one. redeem earnings toward part or even all of a new chevrolet, buick, gmc or cadillac - with no limits. so every time you use it, you're not just shopping for goods. you're shopping for something great. learn more at buypowercard.com
the drug maker said it resolved concerns, the cholesterol drugs, that's the name of a drug. currently they're up about 6% on the trade, so another biotech drug company that's taking off in the trade. back over to you. >> we do pay good money for this? apparently a lot of people do, the streets of spain covered in red for the annual tomatina, that's a battle where people get to pelt each other with tomatoes. some 22,000 people taking part, many of them tourists. the town is also seeing green. this is the second year nonresidents were charged 10 euros or about $13 to participate to help pay off some
debts. the event was actually sold out weeks ahead. have you ever done that, simon? >> uh, no, but it would be useful. if you were making pizza. >> what a waste of marinara sauce. good heavens. that's a lot of tomatoes to throw away. we're stuck on s&p 2000, it would appear, and a very narrow range. there are some things that are moving here. low rates continuing to give a lift as some of the emerging market stocks as well. utility stocks, also are doing better here today, but the key things i wanted to point out, the eem is your biggest of the emerging markds, a three-year high, like india and brazil. remember we have very low volumes. when you see heavy volume, something is going on here. we've had a nice monday for the
emergen marked funds. even russia is starting to come back a bit. as oil has rebounded a modest amount, we've seen some moves up. i don't think they're really big moves particularly, but at least they're no longer a drag on the overall indices. so you're right, s&p we just dipped below 200, 1999, on the s&p. >> thank you, bob. how is the nasdaq looking? >> the nasdaq did hit a 14 1/2 year high this morning, but since then we have pared gains. it's been a stellar month for the nasdaq as well as the nasdaq 100. of course, monetary policy has been a big market mover, but focus on the ecb as well with europe facing its own growth challenges, but despite those concerns there are a couple big winner, tech, retail and consumer name leading the nasdaq 100. one interesting, aruba networks,
reporting fourth quarter earnings, a beat on the top and bottom line. 3.7% of its workforce in an effort to reduce costs. the street seems to like what they hear. on the losing side, internet stocks showing some weakness, many of which have been playing a role in the recent nasdaq, from jenny montgomery citing valuation as a concern. i think the big question is whether this will renew concerns regarding value wagsz, when it curbs to social media. simon and sue? >> seema, thank you very much sploo in the yahoo finance question of the day, we asked you fannie mae and freddie mac downgrading the housing outlook. do you agree? wow, 50% say yes, we're going down. 17% say no, it's going to continue going up.
33% say i think it's going to flatten out for a while. that is a much more bearish perception than you might have expected. >> absolutely. >> we rarely get a 50% on a question of that time, simon. you're right. that does not bode well. thank you. are c.o.o.s a thing of the past? also a hotel chain that will let you relive your college years if you'd like. french chefs are fed up with online reviews, and female coders strip down for a controversial new ad. that's all coming up in the power rundown. do you thinks they ads undermine women? you can weigh in. it's monday. a brand new start. your chance to rise and shine. with centurylink as your trusted technology partner, you can do just that. with our visionary cloud infrastructure, global broadband network and custom communications solutions, your business is more reliable - secure - agile.
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prosecutors say they traded on information the fbi agents arresting -- information from an investor relations firm. there he goes, we'll be following this one for you and see where it goes. let's send it over to dominic chu. >> wait, he just lost a flip-flop. anyway, we're watching shares of sunesis pharmaceuticals. ubs are predicting the results will be positive. you can see there up know 6%. >> more importantly dominic, i think he lost his shirt. welcome do the program. topic one, ladies, c.o.o.s used to be among the most powerful people, chief operating officers, operational quarterbacks if you'd like, one heartbeat away from the corner office. as you are aware of ebb, the
power seems to be diminishing. >> we've seen a number of reports that that position has been on the decline. windstream, kodak and of course apple are a few more. when tim cook took over as ceo. i think in light of that we are seeing the rise of other types of chief officeringses, chief innovation officer, folks focus odd cybersecurity, so it's not just that c.o.o.s are going by the wayside. it's different positions coming in to fill it, also different multiple executives filling that position. >> julia, there's also a suggestion here that actually technology, the e-mail, for example, real-time business metrics means the c.o.eo is bet connected. >> as you mentioned technology, it's easier for the ceo to be in
tough with more people and oversee more areas, but companies now are fairly diverse. in the case of twitter, it probably makes sense to have different people handle different parts and then report back directly to coursal koszlo varsity logos and team mascots. do you give this an a-plus morgan or a fail? >> you know, for me, i give it a fail. i'm not seeing it, especially because it's not like you're reliving the college years. the concept is they're supposed to be nicer than the hotels that are already in college towns, but from a business perspective, i get it the college towns compared to towns without colleges tend to be busier, you tend to potential get higher rates, but also on the flip side, a lot of seasonality.
>> it sounds like so much fun. it's people who are touring college towns with their kids looking at the school, people going back to visit their kids, and i i do think there's pinches top, bad reviews that they're getting in the likes, and they want the french government to step in and create guidelines for reviewers and bloggers. morgan, do you think that's a valid complaint or basically a french crybabies that can't handle criticism? >> i think it's no coincidence this is coming out of france where, you know, in europe we just saw the whole right to be forgotten, with google having to erase certain search results. so i'm not surprised. on the flip side apparently there was a report showing something like 45% of reviews no restaurants were biased or all together wrong. >> if you work in that space, it's a huge issue. final topic for lingerie ads features underwear-clad coders
working in silicon valleys, viewers, where do you stand? do you think at home it empowers women or undermines them in vote now at cnbc.com/vote. julia, do you think it undermines women or do you think it's fair game? >> look, i think if you look at these photos, the campaign, ling way is not what it looks like the it's pretty mainstream, a lot better than a lot of ads out there, but i do think it's a shame that these ads promoting women in technology and shining the spotlight in those women who have accomplished so much have to show them wearing these skimpy assets. >> the organizers saying that portraying women active and ambitious not waiting around for things to happen. >> i would -- it's an underwear ad, it's an underwear ad. i would rather see women successful being entrepreneurial and bringing something to business, to consumers than
seeing just another model that has a body i could never hope -- >> thank you both. sue? >> and everybody can keep on voting at cnbc.com/vote. let us 2340e where you stand on those lingerie ads. the results coming up next. plus a legal battle that could wipe out the season in one of the america's most popular ski areas. all of that still ahead on "power lunch." greenline do for ? just take a closer look. it works how you want to work. with a fidelity investment professional... or managing your investments on your own. helping you find new ways to plan for retirement. and save on taxes where you can. so you can invest in the life that you want today. tap into the full power of your fidelity greenline. call or come in today for a free one-on-one review.
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i would. switch to comcast business internet and get the fastest wifi included. comcast business. built for business. 6% say the under-coding say take a look at this behind me in just a second. this will be video of vail in the winter. thousands count on winter in vail for their livelihood for the full user. year. a legal dispute could stop the fun and all that money as well. jane wells is live in park city, utah with the story. janie? >> a slight correction. it's not vail in danger, but park city. usually the they start selling next week, but there may be no season to -- here's the deal.
the top of the mountain of the park city mount resort is owned by a canadian company. the bottom of the mountain is own by a local billionaire. in a big spat, the two are refusing access to each other's half of the pcmr used to lease the top. they found a much better tenant, pcmr went to court lost, it's appealing, mediation is going on, but the possibility right now of no skiing has locals on edge, especially those directly related to skiing. >> our home office back in michigan, they're watching it closely. it will affect our entire store corporatewide. >> the impact could be somewhere in the realm of 180 million. so that's a substantial factor.
of course, that cascades into the economies that are outside of our community. >> reporter: now right now in court local business owners are packed as a judge is trying to decide how much bond pcmr can put up to delay eviction and maybe at least get this season going. vail knew going into this when it paid $25 million it would not have access to the whole mountain. in fact the landlord's attorney just told the judge they ade male a bad deal, but that's the market the ideally they would like to buy out pcmr, but both sides are very far apart, and cummings is a billionaire. both sides say they want to deal, because all those jobs are on the line. >> jane, thank you so much, from park city, utah. that basketly wraps it up for this edition. >> we'll see you tomorrow. let's see what's ahead on "street signs." hey there, sue. many great things, a burger king
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